BIOPORTO A/S ANNUAL REPORT 2018 FEBRUARY 22, 2019 1 - PowerPoint PPT Presentation

BIOPORTO A/S ANNUAL REPORT 2018 FEBRUARY 22, 2019 1

Forward-Looking Statements This presentation contains forward-looking statements. Words such as “believe”, “expect”, “may”, “plan”, “strategy”, “estimate”, “target” and similar expressions identify such forward-looking statements. Statements other than historical facts included in this presentation concerning our plans, objectives, goals, future events and performance are forward-looking statements. They involve risks, uncertainties and other factors, which may cause actual results, performance and achievements to differ materially from the results discussed in the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date of this presentation. This presentation is for information purposes only and does not constitute an offer to sell or a solicitation of any offer to buy any securities issued by BioPorto A/S (the “Company”) in any jurisdiction. The information contained herein is not for distribution in the United States of America. This document does not constitute, or form part of, an offer to sell, or a solicitation of an offer to purchase, any securities in the United States. The Company’s securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold within the United States absent registration or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to offer or solicit an offer to buy any securities in the Company in the United States or to make a public offering of the securities in the United States. Company securities may be sold only to qualified institutional buyers (as defined in Rule 144A under the Securities Act) in reliance on Rule 144A. 2

3 AGENDA Highlights from 2018   2018 financial result Business development of  The NGAL Test™ 2019 milestones and  financial guidance 3

Highlights of 2018  Revenue from The NGAL Test™ up 43% - total revenue of DKK 26m  Strong increase in revenue from The NGAL Test™ driven by solid RUO sales in U.S. (up by 80% YoY)  Antibody and ELISA kits revenue down due to market conditions and lower bulk orders  Two separate FDA applications for The NGAL Test™ in process  Application for adult plasma-based test with expected regulatory clearance in 2H 2019 and application for urine-based test in children will be submitted in 1H 2019  Paving the road for U.S. post- clearance market entry of The NGAL Test™ in focus  Build-up in U.S. of awareness and knowledge continues with strong focus  High interest to use NGAL as biomarker in drug development and in new indications  Strong increase in sales of The NGAL Test™ will drive revenue to DKK 40m in 2019 (+50% YoY growth) 4

5 AGENDA Highlights from 2018   2018 financial result Business development of  The NGAL Test™ 2019 milestones and  financial guidance 5

Modest growth after solid Q4 2018  Revenue up 31% in Q4 2018 driven by strong performance of The NGAL Test™  For FY2018, revenue totaled DKK 26m – an increase of 3.4% over 2017  Guidance of DKK 30m – difference due to unfavorable market conditions and fewer bulk orders in antibodies and ELISA kits Quarterly revenue (DKKm) Revenue (DKKm, LTM) 28 2017 2018 8.9 26 26 25 25 25 7.1 24 24 6.8 6.6 23 24 6.0 5.4 5.7 21 21 4.6 22 21 20 20 20 18 16 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2016 2016 2016 2016 2017 2017 2017 2017 2018 2018 2018 2018 6

Strong increase in NGAL sales offset by decrease in antibodies/ELISA kits Revenue by product category (DKKm) 43% NGAL 2017 2018 12.2 9.4 9.2 Increase in revenue from The NGAL Test™ from 2017 to 2018 6.4 Antibodies DKK 4m & kits 5.7 4.8 2.6 0.8 Decrease in revenues from antibodies and ELISA kits from 2017 to 2018 The NGAL ELISA kits Antibodies Other products Test™ and licenses 7

Momentum in revenue from The NGAL Test™ driven by ROU sales in U.S. Quarterly revenue from The NGAL Test™ ( DKKm) 80% U.S. sales +47% 2017 2018 3.3 +40% 2.8 +139% Increase in RUO sales of The NGAL Test™ in the U.S. from 2017 to 2018 2.3 2.2 2.0 Rest of the 18% World -30% 1.2 0.9 0.9 Increase in sales of The NGAL Test™ in ROW from 2017 to 2018 Q1 Q2 Q3 Q4 8

Allocation of considerably resources to U.S. market awareness of NGAL  U.S. performance result of Building investment in past years to build Awareness awareness of medical need for National Kidney NGAL as biomarker for safe and Foundations efficient diagnosis of AKI. Direct &  U.S. focus has been on RUO clinics Research Distributor Sales Scientific Use Only at and engagement with KOL and Journals and 25-40 U.S. Papers stakeholders to build knowledge Sites in patient and health care benefits. Direct Target Marketing &  Number of RUO clinics using the Demand Creation test up from approx. 15 in 2017 to KDIGO Distribution 35 end-2018 – will provide solid Guidelines as Partners early as 2020 basis to increase revenues post FDA clearance. 9

Increased cash burn due to ramp-up of staff and slightly lower GM EBIT (DKKm) Cash flow and cash holdings (DKKm) Cash flow from operations and investments (net) 47.1 Cash holdings (year-end) 46.7 35.6 -25.0 -20.1 -36.5 -29.5 -41.8 -39.7 2016 2017 2018 2016 2017 2018 EBIT effected by higher staff costs, fluctuating Solid cash position year-end after successful private exchange rates and changes to product mix. placement with DKK 40m in proceeds in Nov. 2018. 10

11 AGENDA Highlights from 2018   2018 financial result Business development of  The NGAL T est™ 2019 milestones and  financial guidance 11

AKI is a Major Public Health Concern AKI 230% Increase 2 Million Deaths $10 Billion Increase in 10 Years 1 Each Year 2 in U.S. Hospital Costs 3 in U.S. More Higher In-hospital Higher Mortality AKI Costs Why? AKI is common, complex and lacking diagnostic tools to help quickly identify kidney injury and aid clinicians in determining the best treatment to preserve kidney function. Increase from 2004-2014 in the rate of AKI hospitalizations among US adults without diabetes. Pavkov ME, Trends in Hospitalizations for Acute Kidney Injury. MMWR Morb Mortal Wkly Rep 2018;67:289 – 293. 1) Murugan R, Kellum JA. Acute kidney injury: what’s the prognosis? Nat Rev Nephrol. 2011;7:209 – 217. 2) 12 Chertow G, Burdick E, Honour M, Bonventre J, Bates D. Acute Kidney Injury, Mortality, Length of Stay, and Costs in Hospitalized Patients. J Am Soc Nephrol 16: 3365 – 3370, 2005. 3)

Strong KOL support for NGAL as mean to improve health care Dr. Peter McCullough, Baylor “The incorporation of a structural biomarker indicating active kidney damage such as NGAL will greatly enhance our understanding of AKI/CKD and allow us to devise prevention and management strategies.” Dr. Jonathan Barash, Columbia “The use of NGAL in patients with elevated serum creatinine levels provides valuable clinical information to identify patients more likely to have sustained AKI.” Dr. Prasad Devarajan, Cincinnati Childrens ”At CCH we firmly believe that the implementation of NGAL as an early predictive biomarker of AKI severity after cardiopulmonary bypass surgery in our pediatric patients has significant clinical impact.” 13

The NGAL Test™ addresses a massive global market Trauma, Cancer treatment etc. (New indications) Exclusion of AKI in the ED +100M Test ~$2B (Label expansion) Monitoring of AKI (Label expansion) Pediatric Patients 5-10M Tests ~$100-200M (Retrospective trial initiated Q4 2018) Risk Prediction in ICU +150M Tests ~$3B (Under FDA Review) Research Use Only +5M Tests ~$100M (Currently ~40 U.S. Hospitals) Estimated Global Market Opportunity 1. During an average course of illness, 4-5 tests is assumed to be used to diagnose AKI 14 2. Source: CDC, AHA, Ciccla 2017 and Lameire NH, Bagga A, Cruz D, et al. Acute kidney injury: an increasing global concern. Lancet 2013; 382: (9887) 170 – 9

BioPorto submits two separate applications for The NGAL Test™ in 2019  XXX Adult plasma Adults Children Risk use with AKI Risk use with AKI Indication Plasma Urine Based on Additional data with high prevalence measurements in to be collected in 2019 to support existing clinical trials Enrolment of up to 200 Retrospective study Clinical study patients with AKI from based on existing US 3-5 sites in the U.S. data Children urine Expected clearance in Application expected to Key dates 2H 2019 by submitted in 1H 2019 Estimated costs in 2019 for study and DKK 3.5m DKK 2.5m Retrospective study for fast and cost application efficient process – central testing and validation will allow for fast roll-out to +200 pediatric U.S. hospitals and clinics 15